DENVER, July 20, 2017 – Colorado businesses saw a small dip in both new entity filings and existing entity renewals in the second quarter of 2017 compared to the first quarter, but increases over the same period last year.

According to the Quarterly Business & Economic Indicators Report, in the second quarter of 2017, a total of 29,728 new business filings were recorded in Colorado — a 5.9 percent increase over the same period last year. The first quarter of 2017 yielded a 9.3 percent increase year-over-year.

“New entity filing continue an upward trajectory, which is good news for our state,” said Secretary of State Wayne Williams. “There are now nearly 650,000 business entities in good standing filed with our office.”

The Quarterly Business & Economic Indicators Report looks at a variety of factors, such as energy costs, the labor market, and inflation. Through May 2017, home prices in Colorado grew at the third-fastest pace nationally (9.9 percent). Labor data continues to show weakness in employment growth in rural communities.

“At this time the national economy appears poised to continue the third longest expansion in U.S. history,” said Richard Wobbekind, Executive Director of the Business Research Division. “We see few warning signs that could derail this trajectory over the next year. Colorado’s economy is still holding strong.”

The Quarterly Business & Economic Indicators Report is published by the Business Research Division at the Leeds School of Business, University of Colorado Boulder using data from the Secretary of State’s central business registry.